Enterprise Products Partners L.P. (NYSE:EPD) Stock Position Raised by Eagle Ridge Investment Management

Eagle Ridge Investment Management lifted its stake in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 23.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,034 shares of the oil and gas producer’s stock after acquiring an additional 4,039 shares during the quarter. Eagle Ridge Investment Management’s holdings in Enterprise Products Partners were worth $554,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of EPD. Cerity Partners LLC lifted its holdings in shares of Enterprise Products Partners by 89.9% in the fourth quarter. Cerity Partners LLC now owns 289,549 shares of the oil and gas producer’s stock valued at $7,630,000 after purchasing an additional 137,044 shares in the last quarter. Kingsview Wealth Management LLC lifted its holdings in shares of Enterprise Products Partners by 8.7% in the third quarter. Kingsview Wealth Management LLC now owns 38,550 shares of the oil and gas producer’s stock valued at $1,055,000 after purchasing an additional 3,075 shares in the last quarter. Cullen Investment Group LTD. purchased a new stake in shares of Enterprise Products Partners in the fourth quarter valued at $7,542,000. Sapient Capital LLC purchased a new stake in shares of Enterprise Products Partners in the fourth quarter valued at $3,271,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of Enterprise Products Partners in the third quarter valued at $3,793,000. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Price Performance

Shares of NYSE:EPD traded down $0.08 during trading on Monday, reaching $28.47. The stock had a trading volume of 3,184,101 shares, compared to its average volume of 4,948,600. Enterprise Products Partners L.P. has a 52 week low of $25.19 and a 52 week high of $29.99. The business’s 50-day moving average price is $28.58 and its 200 day moving average price is $27.33. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.93 and a quick ratio of 0.68. The stock has a market capitalization of $61.73 billion, a PE ratio of 11.27 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. Enterprise Products Partners had a net margin of 11.12% and a return on equity of 19.65%. The company had revenue of $14.62 billion during the quarter, compared to analysts’ expectations of $12.43 billion. During the same quarter in the previous year, the company posted $0.65 earnings per share. Enterprise Products Partners’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, equities analysts predict that Enterprise Products Partners L.P. will post 2.63 earnings per share for the current year.

Enterprise Products Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.24%. The ex-dividend date is Monday, April 29th. Enterprise Products Partners’s dividend payout ratio (DPR) is currently 81.75%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Scotiabank increased their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a report on Thursday, April 4th. StockNews.com upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 9th. Stifel Nicolaus raised their price target on Enterprise Products Partners from $35.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Wells Fargo & Company lifted their target price on Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Finally, Truist Financial lifted their target price on Enterprise Products Partners from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $32.58.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.